BFG Technologies was a privately held U.S.-based supplier of power supplies and 3D video cards based on NVIDIA graphics technology and a manufacturer of high-end gaming/home theater computer systems. BFG Technologies branded products were available in North America and Europe at retailers and e-tailers. The company's main headquarters were located in Lake County, Illinois, near Lake Forest.

RESEARCH INSTRUMENTS

In collecting primary data, marketing researchers have a choice of two main research instruments—the questionnaire and mechanical devices. The questionnaire is by far the most common instrument. A questionnaire consists of a set of questions presented to a respondent for his or her answers. In preparing a questionnaire, the marketing researcher must decide what questions to ask, the form of the questions, the wording of the questions, and the ordering of the questions. Each question should be checked to see that it contributes to the research objectives.

Although questionnaires are the most common research instrument, mechanical instruments are also used. Two examples of mechanical instruments are people meters and supermarket scanners. These techniques are not widely used because they tend to be expensive, require unrealistic advertising exposure conditions, and are hard to interpret.

COLLECTING THE INFORMATION

The researcher must now collect the data. This phase is generally the most expensive and the most liable to error. In the case of surveys, four major problems arise. Some respondents will not be at home and will have to be replaced. Other respondents will refuse to cooperate. Still others will give biased or dishonest answers. Finally, some interviewers will occasionally be biased or dishonest.

CHARACTERISTICS OF GOOD
MARKETING RESEARCH

Following are the characteristics of good marketing research

Scientific method. Effective marketing research uses the principles of the scientific method: careful observation, formulation of hypotheses, prediction, and testing.
Research creativity. At its best, marketing research develops innovative ways to solve a problem.
Multiple methods. Competent marketing researchers shy away from over-reliance on any one method, preferring to adapt the method to the problem rather than the other way around. They also recognize the desirability of gathering information from multiple sources to give greater confidence.
Interdependence of models and data. Competent marketing researchers recognize that the facts derive their meaning from models of the problem. These models guide the type of information sought and therefore should be made as explicit as possible.
Value and cost of information. Competent marketing researchers show concern for estimating the value of information against its cost. Value/cost evaluation helps the marketing research department determine which research projects to conduct, which research designs to use, and whether to gather more information after the initial results are in. Research costs are typically easy to quantify, while the value is harder to anticipate. The value depends on the reliability and validity of the research findings and management's willingness to accept and act on its findings. In general, the most valuable information tends to cost the most because it requires more intensive methods, but of course it is easy to spend a great deal of money on poorly conceived research.
Healthy skepticism. Competent marketing researchers will show a healthy skepticism toward assumptions made by managers about how the market works.
Ethical marketing. Most marketing research benefits both the sponsoring company and its consumers. Through marketing research, companies learn more about consumers' needs, and are able to supply more satisfying products and services. However, the misuse of marketing research can also harm or annoy consumers. There are professional ethical standards guiding the proper conduct of research.
PRESENTING THE RESEARCH PLAN

The last step in market research is the presentation of a formal plan. At this stage, the marketing researcher should summarize the plan in a written proposal to management. A written proposal is especially important when the research project will be large and complex or when an outside firm carries it out. The proposal should cover the management problems addressed and the research objectives, the information to be obtained, the sources of secondary information or methods for collecting primary data, and the way the results will help management decision making. A written research plan or proposal makes sure that the marketing manager and researchers have considered all the important aspect of the research and that they agree on why and how the research will be done.

MANAGEMENT'S USE
OF MARKETING RESEARCH

In spite of the rapid growth of marketing research, many companies still fail to use it sufficiently or correctly. Several factors can stand in the way of its greater utilization.

A narrow conception of marketing research. Many managers see marketing research as only a fact-finding operation. The marketing researcher is supposed to design a questionnaire, choose a sample conduct interviews, and report results, often without being given a careful definition of the problem or of the decision alternatives facing management. As a result, some fact finding fails to be useful. This reinforces management's idea of the limited usefulness of some marketing research.
Uneven caliber of marketing researchers. Some managers view marketing research as little better than a clerical activity and reward it as such. Poorly qualified marketing researchers are hired, and their weak training and deficient creativity lead to unimpressive results. The disappointing results reinforce management's prejudice against expecting too much from marketing research. Management continues to pay low salaries, perpetuating the basic difficulty.
Late and occasional erroneous findings by marketing research. Managers want quick results that are accurate and conclusive. But good marketing research takes time and money. If they can't perceive the difference between quality and shoddy research, managers become disappointed, and they lower their opinion of the value of marketing research. This is especially a problem in conducting marketing research in foreign countries.
Intellectual differences. Intellectual divergences between the mental styles of line managers and marketing researchers often get in the way of productive relationships. The marketing researcher's report may seem abstract, complicated, and tentative, while the line manager wants concreteness, simplicity, and certainty. Yet in the more progressive companies, marketing researchers are increasingly being included as members of the product management team, and their influence on marketing strategy in growing.
 
BFG Technologies was a privately held U.S.-based supplier of power supplies and 3D video cards based on NVIDIA graphics technology and a manufacturer of high-end gaming/home theater computer systems. BFG Technologies branded products were available in North America and Europe at retailers and e-tailers. The company's main headquarters were located in Lake County, Illinois, near Lake Forest.

RESEARCH INSTRUMENTS

In collecting primary data, marketing researchers have a choice of two main research instruments—the questionnaire and mechanical devices. The questionnaire is by far the most common instrument. A questionnaire consists of a set of questions presented to a respondent for his or her answers. In preparing a questionnaire, the marketing researcher must decide what questions to ask, the form of the questions, the wording of the questions, and the ordering of the questions. Each question should be checked to see that it contributes to the research objectives.

Although questionnaires are the most common research instrument, mechanical instruments are also used. Two examples of mechanical instruments are people meters and supermarket scanners. These techniques are not widely used because they tend to be expensive, require unrealistic advertising exposure conditions, and are hard to interpret.

COLLECTING THE INFORMATION

The researcher must now collect the data. This phase is generally the most expensive and the most liable to error. In the case of surveys, four major problems arise. Some respondents will not be at home and will have to be replaced. Other respondents will refuse to cooperate. Still others will give biased or dishonest answers. Finally, some interviewers will occasionally be biased or dishonest.

CHARACTERISTICS OF GOOD
MARKETING RESEARCH

Following are the characteristics of good marketing research

Scientific method. Effective marketing research uses the principles of the scientific method: careful observation, formulation of hypotheses, prediction, and testing.
Research creativity. At its best, marketing research develops innovative ways to solve a problem.
Multiple methods. Competent marketing researchers shy away from over-reliance on any one method, preferring to adapt the method to the problem rather than the other way around. They also recognize the desirability of gathering information from multiple sources to give greater confidence.
Interdependence of models and data. Competent marketing researchers recognize that the facts derive their meaning from models of the problem. These models guide the type of information sought and therefore should be made as explicit as possible.
Value and cost of information. Competent marketing researchers show concern for estimating the value of information against its cost. Value/cost evaluation helps the marketing research department determine which research projects to conduct, which research designs to use, and whether to gather more information after the initial results are in. Research costs are typically easy to quantify, while the value is harder to anticipate. The value depends on the reliability and validity of the research findings and management's willingness to accept and act on its findings. In general, the most valuable information tends to cost the most because it requires more intensive methods, but of course it is easy to spend a great deal of money on poorly conceived research.
Healthy skepticism. Competent marketing researchers will show a healthy skepticism toward assumptions made by managers about how the market works.
Ethical marketing. Most marketing research benefits both the sponsoring company and its consumers. Through marketing research, companies learn more about consumers' needs, and are able to supply more satisfying products and services. However, the misuse of marketing research can also harm or annoy consumers. There are professional ethical standards guiding the proper conduct of research.
PRESENTING THE RESEARCH PLAN

The last step in market research is the presentation of a formal plan. At this stage, the marketing researcher should summarize the plan in a written proposal to management. A written proposal is especially important when the research project will be large and complex or when an outside firm carries it out. The proposal should cover the management problems addressed and the research objectives, the information to be obtained, the sources of secondary information or methods for collecting primary data, and the way the results will help management decision making. A written research plan or proposal makes sure that the marketing manager and researchers have considered all the important aspect of the research and that they agree on why and how the research will be done.

MANAGEMENT'S USE
OF MARKETING RESEARCH

In spite of the rapid growth of marketing research, many companies still fail to use it sufficiently or correctly. Several factors can stand in the way of its greater utilization.

A narrow conception of marketing research. Many managers see marketing research as only a fact-finding operation. The marketing researcher is supposed to design a questionnaire, choose a sample conduct interviews, and report results, often without being given a careful definition of the problem or of the decision alternatives facing management. As a result, some fact finding fails to be useful. This reinforces management's idea of the limited usefulness of some marketing research.
Uneven caliber of marketing researchers. Some managers view marketing research as little better than a clerical activity and reward it as such. Poorly qualified marketing researchers are hired, and their weak training and deficient creativity lead to unimpressive results. The disappointing results reinforce management's prejudice against expecting too much from marketing research. Management continues to pay low salaries, perpetuating the basic difficulty.
Late and occasional erroneous findings by marketing research. Managers want quick results that are accurate and conclusive. But good marketing research takes time and money. If they can't perceive the difference between quality and shoddy research, managers become disappointed, and they lower their opinion of the value of marketing research. This is especially a problem in conducting marketing research in foreign countries.
Intellectual differences. Intellectual divergences between the mental styles of line managers and marketing researchers often get in the way of productive relationships. The marketing researcher's report may seem abstract, complicated, and tentative, while the line manager wants concreteness, simplicity, and certainty. Yet in the more progressive companies, marketing researchers are increasingly being included as members of the product management team, and their influence on marketing strategy in growing.

Hey netra, many many thanks for sharing such an important marketing research report on BFG Technologies which would be beneficial for many people. Well, i also did some searches and got some useful information on BFG Technologies and going to share it with you.
 

Attachments

  • BFG Technologies.pdf
    3 MB · Views: 0
Top